This acquisition aims to provide all-around financial advice for Singaporeans.
Proceedings will go into building the team, focus on community engagement, and marketing efforts.
The firm currently focuses investing on Indonesian based companies only.
MIT proposes a private placement of 90.44 million new units to raise a minimum gross proceeds of S$175 million (about US$129 million).
The funding is led by its parent group Frontier Car Group and joined by Toyota Tunas Indonesia.
LOGIVAN plans to implement artificial intelligence to improve its data analysis and cross-platform integration.